The value of Ripple’s XRP The token rose to $ 1.09 on April 6, 2021, marking the first time in nearly three years that crypto has exceeded the $ 1 mark. The token’s new 52-week high coincided with an altcoin price rally that saw the value of some tokens soar to new all-time highs. At the time of writing XRP had retreated to just under $ 1 when the altcoin rally appeared to be subsiding.
Token defies SEC lawsuit
Meanwhile, XRPIn the rally, in which the value of tokens has doubled in the past seven days, Ripple continues to compete against the US Securities and Exchange Commission as a token issuer. Bitcoin.com News reported in its latest article on the lawsuit between the SEC and Ripple that a US court had stopped an attempt by the SEC to block it XRP Holders of participation in the event.
In late December 2020, the SEC sued Ripple after accusing the fintech company of issuing securities (XRP Token) in violation of the US Securities Act. Immediately after the complaint is announced, the value of XRP crashed. For example, data on Markets. socialmediagossips.com shows this XRP fell to $ 0.22 on December 29 from a trading price of $ 0.55 on December 19. In addition to the drop in prices, some crypto exchanges responded to the controversy by delisting the token.
December losses reversed
Despite the ongoing challenges, the token has now reversed most of the losses it suffered after the SEC filed the lawsuit. For example, Markets. socialmediagossips.com data shows that between March 31 and April 6, the value of XRP The token rose from $ 0.55 to $ 1.09.
At the time of writing XRPWith a market cap of nearly $ 41 billion, the company occupies a new position as one of the four largest crypto assets. Even so, the token lags behind Binance’s BNB This is now the third highest crypto asset after BTC and ETH. Today, XRP is trading for just under $ 1 at $ 0.90 per unit.
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